Free cash flow is cash from operations, less cash for dividends and cash for fixed assets needed to maintain productivity dividends and cash to redeem bonds payable fixed assets needed to maintain productivity dividends, cash for fixed assets needed to maintain productivity, and cash to redeem bonds payable The last item on the statement of cash flows prior to the schedule of noncash investing and financing activities reports the increase or decrease in cash cash at the end of the year net cash flow from investing activities net cash flow from financing activities Which of the following is a noncash investing and financing activity? payment of a cash dividend payment of a six-month note payable purchase of merchandise inventory on account issuance of common stock to acquire land Financing activities include lending money. acquiring investments. issuing debt. acquiring long-lived assets. Investing activities include collecting cash on loans made. obtaining cash from creditors. obtaining capital from owners. repaying money previously borrowed